Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 24AV

States and Territories to consent to STBs being excluded STBs

             (1)  The regulations may prescribe that an STB is an excluded STB only if all States and Territories consent to the STB being so prescribed.

Regulations prescribing excluded STBs may be retrospective

             (2)  Despite subsection 12(2) of the Legislative Instruments Act 2003 , a regulation prescribing an STB as an excluded STB may provide that the STB is an excluded STB in relation to a time before the day of the notification of the regulation in the Gazette .